Thread: Is Saab going tits up?

Saab on the brink of closure


Swedish car maker Saab is so close to going bust that it can't afford to pay its staff this month. It has already suspended production because it has failed to pay suppliers.
The company has been in trouble for years, having been catastrophically mismanaged by owner General Motors (GM), but it found hope when a new buyer took over.
That buyer, Spyker, promised to return Saab to its glory days with fresh investment and a different approach to new models. The 9-3 and 9-5 Saabs built under GM were never anywhere near the best of the premium classes they competed in.
Spyker, a Dutch supercar maker, bought Saab from GM at the beginning of 2010. It even sold its supercar business to concentrate on running Saab.
Unfortunately, Spyker needed to attract considerable outside investment to turn Saab's fortunes around quickly, and it has failed to do so.
Saab's sales in 2010 were miserable - only 30,000 cars were sold worldwide. The company needed to sell 120,000 just to break even. To put those sales into perspective, Vauxhall has sold 30,000 Corsas in the UK alone so far this year.
The new 9-5 executive saloon (pictured), which competes with cars like the BMW 5 Series and the Audi A6, was met with a lukewarm reception when it was launched last year, resulting in lacklustre sales.
And the company's latest car, the 9-4X crossover, which was developed by GM but stalled while the sale to Spyker went through, is already receiving less-than-enthusiastic reviews. It goes on sale in the UK in December, assuming Saab is still around then.
When Spyker bought Saab it did so with around £350 million from the European Investment Bank. That money has dried up, and it's unlikely that Spyker will be able to attract more.
However, two Chinese companies have declared interest in investing, Zhejian Youngman Lotus Automobile and Pang Da Automobile, but it's now thought they will simply wait until Saab goes bust, then buy the brand rights and assets for a minimal sum - the same thing that Nanjing Automobile Group did when MG Rover went under in 2005.
Spyker has made no official announcement about its predicament yet, apart from confirming "discussions with various pa

Never even driven one
http://uk.cars.yahoo.com/24062011/36...closure-0.html

^ The Saab 900 Turbo was a nice motor back in the day. Does look dated now though




What Saab Should Do. Bring Back the Saab 900.





What Saab Should Do. Bring Back the Saab 900. |

The Thais are looking to bail them out...

Changing the name to Sabaii...

Saab only ever made one decent model and that was the Sonnet in 1966

Sounds nice

the Chinese should buy them out like they did with other brands

Someone will probably wait until it goes to the wall and just by the marque like Tata did with Rover

Originally Posted by Thetyim

Saab only ever made one decent model and that was the Sonnet in 1966

Have to disagree. My ex had a Saab convertible and it was jolly nice.

Not a surprise to see them struggling though. GM couldn't manage their way out of a paper bag.

Originally Posted by Marmite the Dog

GM couldn't manage their way out of a paper bag.

That's because it's run by the US Government. Before that, it were the unions that destroyed it...

Originally Posted by Boon Mee

Originally Posted by Marmite the Dog

GM couldn't manage their way out of a paper bag.

That's because it's run by the US Government. Before that, it were the unions that destroyed it...

GM are still useless whoever you try to put the blame on.

Originally Posted by Marmite the Dog

My ex had a Saab convertible and it was jolly nice.

Nice for posing but not a drivers car

Originally Posted by Marmite the Dog

Originally Posted by Boon Mee

Originally Posted by Marmite the Dog

GM couldn't manage their way out of a paper bag.

That's because it's run by the US Government. Before that, it were the unions that destroyed it...

GM are still useless whoever you try to put the blame on.

Quite.

I'd never purchase a vehicle made from Detroit or its overseas subsidiaries.

^
Agree it will be almost impossible for Saab to survive where they are trying to compete.

Shame to see them go though, Volvo and Saab has had a lot of influence in making cars safer all over the world.

Originally Posted by larvidchr

Shame to see them go though.

Always a shame when the smaller guys have to fold up their tent but such is the nature of the industry.

A list of defunct car companies in US alone. Probably more in Europe.

http://en.wikipedia.org/wiki/List_of..._manufacturers

Pretty clear why some had less than mass appeal.

Sooner they go down the toilet the better!
Truly awful cars for the masses.
Wish Volvo would join them too

GM was certainly a curse but the untying of Saab from their apron strings has been a travesty.

The Chinese, if they are still interested, are simply waiting for it to go bust and then will pick up the marque for peanuts.

Crying shame. Loved Saabs for their idiosyncracies - all that power through the front wheels, torque steer galore and a habit of putting you in the ditch as you tested the laws of physics. But, sitting in that drivers seat, one of the most comfortable designed, and enveloped by a dashboard that was a joy of clever simplicity was deeply satisfying on a long trip. Flicking the night switch on and off during tedious motorway journeys was a childish pleasure but quite irresisitible.

The 900 was probably the last great Saab with an engine that could take you 300,000 miles if you didn't forget the oil although the chassis was from a Vauxhall Cavalier which is why one had to be careful lest those ditches became a feature of the journey.

Who else put the ignition next to the gearbox? Locking it in gear and forgetting to put it back into neutral before next driving off was always a hazard. I was forever doing it when I had a hangover.

America never listened to W. Edward Deming...
Japan listened...
And the rest...
They say...
Is...
History

Originally Posted by Thetyim

Originally Posted by Marmite the Dog

My ex had a Saab convertible and it was jolly nice.

Nice for posing but not a drivers car

True, but 99.9% of people don't need to race on public roads. I'd prefer the Saab for everyday use than a Ferrari.

I owned 2 Saab's in the UK. The classic 900 turbo and the newer 9-3 S. Quite brilliant cars with bomb proof engines and advanced safety features.

When you compare the quality build of Saab with say Rover who quite honestly built very poor quality cars that were more expensive there simply was no contest, yet Rover completely outsold Saab.

A lot of people that have owned a Saab have bought another. They have a cult following hence the protest from owners when Saab attempted to alter the body stying in past decades.

Unfortunately, because of Thailands high import duties i left my Saab back in the UK when i settled here. I miss it dreadfully

That's disappointing news.

I've had Saab's for most of the past 20 years starting with 99's, then a 9000 Aero then 900 Vigan but it all came to an end with a Thai Draken.

The 9000 Aero had the best car seats ever made.

Simply not a car that can be properly maintained in Thailand without the risk of it being SaAbbott-aged

Saab says a big order means it can pay employee wages




The Swedish carmaker Saab has announced a big order from a Chinese company, which means it now can afford to pay its staff.

Last week, the company said it was too short of cash to make the payments.
Now it has said that the pre-payment on a 13m euro ($18m; £12m) order for 582 Saab vehicles would give it the short-term funding it needs.

Saab said it will also be able to make some payments to suppliers but would not yet be able to resume production.

Saab did not identify the Chinese buyer.

Earlier this month, Spyker said it had reached a deal with two Chinese firms to invest a total of 245m euros ($350m; £218m) in Saab.

"I am pleased to announce this agreement, as it secures part of the necessary short-term funding for Saab Automobile and allows us to pay our employees' wages before the end of this month," said Victor Muller, head of Saab's owner Spyker Cars, which has just renamed itself Swedish Automobile.

"Swedish Automobile and Saab Automobile continue their discussions with several parties to secure additional short-term funding to restart production."

Saab was bought by the small Dutch firm Spyker from General Motors at the beginning of 2010.